The Benefit of Collaboration in Times of Crisis

Everyone working in the sector knows the impact of an economic downturn, natural disaster, or a worker strike on a supply chain. Being as prepared as possible to deal with those impacts is a much-touted strategy to ensure ongoing operations. With this Coronavirus (COVID-19) pandemic, it is all that more important.

One approach that could prove very beneficial when problems arise requires a long-term outlook. It hinges on the effectiveness of the relationship-building you do.

• Have you established a collaborative supply chain?
• Do you work closely with your partners?
• Is there a sense of commitment in the partnerships?
• Have you aligned goals and enabled open communication?
• Are your details documented?

If you can answer “yes” to these questions, you’ve probably provided your company with some protection against supply shortages during a crisis. You’ve made your company a customer of choice.

If the supply of a product becomes limited, the supplier will almost certainly provide it to those customers that are most meaningful to its ongoing operation.

Having first access to a product in such a situation is just one of the benefits of effective collaboration. Favored customers also gain through working with the supplier’s top employees and purchasing at the best possible rates.